NextGen Digital Buys $1.0 Million in Bitcoin

NextGen Digital Platforms Inc. (NXT.CN), a digital asset and fintech platform focused on bridging traditional capital markets with Web3 infrastructure, announced Monday the acquisition of $1.0 million worth of Bitcoin to be held on its balance sheet as part of its corporate treasury strategy that incorporates the acquisition of certain crypto assets, including Bitcoin, Ethereum, and/or Solana. In a statement NextGen said these digital assets are being recognized by it as "potential long-term stores of value and as a hedge against systemic financial risk". In taking this step, the company noted it joins a growing number of publicly listed companies integrating digital assets into their treasury frameworks alongside traditional holdings such as cash, cash equivalents, and marketable securities. The company added it may allocate up to 80% of its treasury holdings to crypto assets. According to the company this allocation reflects a proactive approach to treasury management, particularly during a period of elevated fiscal instability, inflationary pressure, and increasing institutional demand for decentralized financial alternatives. The company views this move as a means to enhance the resilience and diversification of its balance sheet while aligning with a broader global shift toward the adoption of digital assets. "We believe Bitcoin is a unique monetary asset that offers long-term resilience and upside as a treasury reserve. Our decision to allocate capital into Bitcoin reflects our confidence in the long-term value and relevance of decentralized assets in the global economy," said Matthew Priebe, Chief Executive Officer. This strategic initiative is not expected to impact the company's current development activities or the execution of its business plans. The company will disclose any material acquisitions of crypto assets. NXT was up 12.5% on the Canadian Securities Exchange on Friday.